Future Generali

Cancer Insurance: A Comprehensive Guide

What is Cancer? How grave is the illness?

Cancer is an umbrella term used for diseases where abnormal cells divide without control, invade surrounding tissues, and tamper with the otherwise orderly process of cell growth and death. When old or damaged cells don’t die, such cancers form solid tumours, which are masses of tissue. Cancers of the blood, such as leukaemias, generally do not form solid tumours. The human body is made up of trillions of cells and cancer can start almost anywhere in the body.

Cancer is a leading cause of death worldwide. Deaths from cancer worldwide are projected to continue to rise to over 13.1 million in 2030. According to data released by the World Health Organization’s (WHO) International Agency for Research on Cancer, this disease was estimated to have claimed 9.6 million lives in the world in 2018. India’s share in it was estimated to be a worrying 8.17%. It also states that one in 5 men and one in 6 women worldwide develop cancer during their lifetime, and one in 8 men and one in 11 women die from the disease. The statistics are alarming. Worldwide, the total number of people who are alive within 5 years of a cancer diagnosis, called the 5-year prevalence, is estimated to be 43.8 million.

Closer to home, the statistics also ring a bell. In India, an estimated 2.25 million people are living with the disease. Every year, more than 11 lakh cancer patients and around 7.8 lakh cancer-related deaths are registered. A lot of people are at risk, and the only way to stay prepared for such a situation is by being proactive in prevention and provision through small yet significant steps like Cancer Insurance.


The cure comes at a cost

Getting diagnosed with Cancer can be heart-breaking, and the statistics have made it clear that our lifestyles have made us all vulnerable to this ailment. With the incidence of cancer cases in India skyrocketing, it is important to consider how a diagnosis can change your life. It will take an emotional toll on you and your loved ones, but it will also put a major burden on your financial health. The health care costs for treating cancer are catastrophic, often pushing households to the brink of poverty. On top of it, there’s the worst case scenario you constantly play in your head: what if cancer spells the end of life? How will your family and loved ones manage after you’re gone?

Surveys have revealed that majority of the people have inadequate awareness about the economic burden of the disease and therefore, little to no preparedness about the financial implications of cancer . This financial burden that you face can be eased with the help of cancer insurance.

Cancer Insurance: How can it help?

A good cancer insurance plan will provide you cover as soon as cancer is diagnosed whether it is in Minor Stages or in Major Stage. This cover will include protection upon diagnosis that, first of all, waives off your premiums for the next three years or the remaining duration of the policy. Then, in accordance with your choice, you can either receive fixed payouts on diagnosis or along with these payouts, you can additionally receive 2% of your cover amount (sum assured) per month for a period of 60 months on the diagnosis of Major Stage Cancer. You have the flexibility to choose your protection plan. The policy will terminate once the sum assured is exhausted.

Who can buy a cancer insurance policy?

You can buy cancer insurance for yourself, your spouse, children, parents, parents-in-law, siblings. You will have to buy an individual policy for each family member. The age group catered is between 18 and 65 years of age.

A Future Generali Cancer Protect Plan will help you stay financially and psychologically secure in case you or a family member of yours is diagnosed with cancer. Once you are financially prepared to deal with the unfortunate situation, you can focus on spending time with your loved ones. The plan can be purchased online here , and there’s no medical examination required. All you have to do is fill out a simple form.

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